Oh, for the love of Mike. . . . here we go again.
OK, first, WHO CARES if Americans own the company? What has that got to do with anything? They're not automatic good guys because they're from the same country as you are, guys. The Good Patriotic Americans who now own Smith and Wesson said they'd live up to the agreement if it's enforced. Since they have EXACTLY the same position on your rights as the Evil British Owners, what makes you so eager to jump into their arms? You'd rather be beaten by an American with a ball bat than a Briton with a ball bat?
Second, the agreement has not changed a bit. "Extinct" is so inaccurate as to be laughable. The only thing that has changed is that the current administration chooses not to enforce the agreement for the time being. This is akin to your bookie letting you slide for a couple of months--it doesn't mean he's forgiven your debt!
Same deal here. The agreement is still there and still in force. Should the administration decide they need to enforce it to get a little cover on gun control, they can do so that same day. If an anti gets elected next time, all they have to do is tell HUD and BATF to enforce the agreement. Voila! All the money you spent in the interim has gone to save a company that will now try to dominate the market and force your dealer not to stock legal items like handguns that can accept full-caps, "assault rifles," etc.
As a matter of fact, I wouldn't be surprised to see this become a campaign issue, with some of Bush's challengers campaigning on the point that they would enforce this agreement to provide trigger locks for The Children. Doesn't have to be a Democrat, either. McCain, anyone?
It's nice that Guns & Ammo trusts their sponsors so implicitly, but Smith and Wesson doesn't have the power to deliver what they're promising. They're trying to promise us that the agreement will not be enforced, but that's not their decision. The only control they had was the chance not to sign it. The ball is now in the government's court.